Business By The Books with Danielle Hayden How Much Revenue Do You Need to Hire? - Ep 161
Hiring can be intimidating for business owners, but it's a crucial step in the business growth journey. In fact, not hiring could be holding you back — both in business and your personal life. During this episode, CEO Danielle Hayden answers the following questions: How can business owners determine when to start hiring? What are the 3 types of people they should hire? What is the business owner's role in their business as they expand their team?
Danielle shares the Kickstart Accounting Inc. framework that guides business owners through the hiring process, from recognizing the signs that it's time to hire to choosing the right type of hire: expert, contractor, or employee. Tune in to learn more!
Key Takeaways:
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Hiring will not only help a business grow, but also allows business owners to delegate work and realign their focus towards both career and personal goals.
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Experts, contractors, and employees each bring unique advantages to a business.
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While there is a general framework for who and when to hire, every business is different and should tailor their strategy to their specific needs and goals.
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As your business grows, business goals will evolve which makes it crucial to routinely assess and adapt your role and the structure of your team.
Topics Discussed:
Deciding when to hire: the tipping point (1:54)
Questions to ask yourself when determining when to hire (4:39)
Types of hires: experts, contractors, employees (5:55)
Who to hire for your profit margin (10:21)
The role of owners in their business (12:36)
What to expect in our hiring series (15:44)
Connect with Kickstart Accounting Inc.:
Instagram | https://www.instagram.com/Kickstartaccounting